Global Real Estate: Local Markets Chapter 5: Networking Power

In This Chapter Networking strategy Building your team Integrating social media Referral best practices Will local business lead you abroad? Purposeful travel 2

Networking as a Business Strategy Time Effort Money Focus Plan Planned networking transforms data into market knowledge, actions steps, contacts, and transactions. 3

Finding and Making Contacts Local market trends Foreign buyers moving in or investing? Local buyers interested in another country? What types of investments are they making? Your own interests? Personal travels? Family connections? 4

Business Roundtable Local business owners want to know about market trends and reach the same clientele First source for advice Exchange leads and build each other’s businesses 5

Networking Information System 6 Market information Prospects and clients Reminders Maps Spheres of influence News References Trends

Social Media Connect to your spheres’ spheres Get acquainted before contact – Important for high context cultures Demonstrate knowledge, professionalism, and value proposition Authenticity is key! How do you use social media? 7

Referral Networks NAR Global Network of Cooperating Associations—more than 80 associations in nearly 60 countries CIPS Network—2,000 real estate professionals Franchise networks 8

Referral Best Practices Making a ReferralMaking a Referral 9

Referral Best Practices Receiving a ReferralReceiving a Referral 10

Expatriate Programs Panama: Pensionado and Special Specific Countries Visa Programs Mexico Belize: Retire in Belize Program India: Non Resident Indian Incentives Malaysia: Malaysia My Second Home Philippines: Special Resident Retiree’s Visa (SSRV) Program 11

Purposeful Travel Plan your vacation and work in business? - OR- Business first and work in your vacation? 12

Trade Shows and Expos Networking Comparison shopping Sales contacts Education Competition— monitor New ideas and products What is your business focus? Prepare a personal script Professional behavior and demeanor 13

Trade Missions Study tour Develop relationships and opportunities U.S. groups—build referral networks Non-U.S. groups — facilitate investment Common ground— identifying local partners 14

15 Key Point Review